Industry Metrics: Global refining margins diverge based on region

Refinery margins weakened in the US due to lower winter demand. In Europe and Asia, stronger regional demand amid a tightening environment and export opportunities allowed for a recovery in crack spreads at the bottom of the barrel, which, along with continued strength in the gasoline market, allowed refinery margins to rise. Refinery utilization rates rose, mainly in Asia, following the end of the heavy maintenance season.